- Meeting Date:
- 12/03/2008
- Title:
- Budget Amendment to provide funding for the City's parks project.
- Submitted For:
- Cheryl Hunter
- Submitted By:
- Cheryl Hunter, Finance
- Department:
- Finance
ACTION REQUEST (Brief Summary)
BACKGROUND
A budget amendment is needed to provide funding for the Central Park and Magnolia Park project. The Central Park Project will consist of a 200-plus acres in the northwestern portion of the City and the Magnolia Park Project consist of about 50 acres in the central part of the City. BP has donated $2.5 million to support the creation and development of these parks, as well as installing solar panels at the new Sanders-Vincent Community Center in the eastern part of the City. This $2.5 million contribution is the first installment on a $5.5 million contribution toward the Parks projects, including $2 million in 2009 and $1 million in 2010. Since 2005, BP has contributed about $11 million to various projects and organizations in the Greater Galveston County area, with a significant part serving initiatives in the immediate Texas City area.
ANALYSIS
| General Fund (101): | |
| 101-301-55010-98046-Central Park Project |
$1,500,00 |
| 101-301-55010-98047-Magnolia Park Project |
$500,000 |
| 101-301-55010-08021-Sanders-Vincent Center |
$500,000 |
| 101-000-48307-Donations |
<$2,500,000> |